22 April 2003, 13:20  Dollar battered, hits one-month low against euro

LONDON, April 22 - The dollar lost more than one percent against the Swiss franc and hit a one-month low on the euro on Tuesday, weighed down by concerns about the outlook for the post-war U.S. economy. Investors were also cautious ahead of a slew of U.S. corporate earnings results due later on the day and major U.S. data on growth and business conditions later this week. "The outlook for the U.S. economy is not good, we had terrible data last week, and people are nervous ahead of U.S. data later this week," said Jesper Dannesboe, chief foreign exchange strategist at Dresdner Kleinwort Wasserstein.
"It appears investors who came back from the weekend are putting on positions." By 0915 GMT the dollar had fallen to 1.3720 francs , down more than one percent on the day. Against the euro it lost over three quarters of a percent to $1.0966 , its lowest since early March. U.S. stock futures were pointing to a softer open on Wall Street. //

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